Laurentian Bank of Canada to Post Q2 2023 Earnings of $1.15 Per Share, Cormark Forecasts (TSE:LB)

Laurentian Bank of Canada (TSE:LB – Get Rating) – Research analysts at Cormark cut their Q2 2023 earnings estimates for Laurentian Bank of Canada in a note issued to investors on Tuesday, May 23rd. Cormark analyst L. Persaud now expects that the company will post earnings per share of $1.15 for the quarter, down from their previous estimate of $1.16. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $4.74 per share. Cormark also issued estimates for Laurentian Bank of Canada’s FY2023 earnings at $4.83 EPS and FY2024 earnings at $5.10 EPS.

Laurentian Bank of Canada (TSE:LB – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported C$1.15 EPS for the quarter, topping analysts’ consensus estimates of C$1.12 by C$0.03. Laurentian Bank of Canada had a net margin of 22.90% and a return on equity of 8.15%. The business had revenue of C$260.07 million during the quarter, compared to analysts’ expectations of C$259.00 million.

Several other research firms have also issued reports on LB. Barclays lowered their target price on shares of Laurentian Bank of Canada from C$36.00 to C$34.00 in a report on Tuesday, May 9th. CIBC lowered their target price on shares of Laurentian Bank of Canada from C$40.00 to C$37.00 in a report on Tuesday, May 16th. Scotiabank decreased their price objective on shares of Laurentian Bank of Canada from C$39.00 to C$38.00 in a report on Friday, February 17th. National Bankshares decreased their price objective on shares of Laurentian Bank of Canada from C$42.00 to C$39.00 in a report on Thursday, May 18th. Finally, CSFB decreased their price objective on shares of Laurentian Bank of Canada from C$35.00 to C$32.00 in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$39.55.

Laurentian Bank of Canada Stock Down 0.4 %

Shares of TSE:LB opened at C$30.33 on Wednesday. The firm has a fifty day simple moving average of C$31.53 and a two-hundred day simple moving average of C$32.94. The stock has a market capitalization of C$1.32 billion, a P/E ratio of 6.28, a PEG ratio of 0.76 and a beta of 1.15. Laurentian Bank of Canada has a 52 week low of C$28.23 and a 52 week high of C$43.32.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, May 1st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date was Friday, March 31st. Laurentian Bank of Canada’s payout ratio is currently 38.10%.

About Laurentian Bank of Canada

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Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.